Friday, October 3, 2008
FULL VIDEO: Sara Palin/ Joe Biden Vice Presidential Debate-Oct 2 2008
Posted by Share Investor at 10:29 AM 1 comments
Labels: FULL VIDEO: Sara Palin/ Joe Biden Vice Presidential Debate-Oct 2 2008, US Politics
VIDEO & TRANSCRIPT OF DEAL: Senate passes $700 billion bailout
Congress Announces Bipartisan Agreement On Emergency Economic Stabilization Plan To Restore Stability In The Financial Markets, While Protecting Taxpayers On Main Street
Congressional leaders announced an agreement on a bipartisan compromise to address the Nation's financial crisis. The Administration worked closely with Congressional leaders from both sides of the aisle to reach an agreement quickly on legislation approving the government's purchase of difficult-to-sell assets, such as troubled mortgage-backed securities, from banks and other financial institutions.This agreement is a decisive step that will address underlying problems in our financial system. It will help take pressure off the balance sheets of banks and other financial institutions, and it will allow them to resume lending and get our financial system moving again. Further stress on our financial markets would likely lead to massive job losses, devastated retirement accounts, further erosion of housing values, and reduced availability of loans for new homes, cars, and college tuitions. This new proposal will entail risk, but the risk of not acting would have been far greater.
- The President and his Administration agree that this is the right course to take. The agreed-upon legislation is robust and will allow us to get to the source of the problem – the troubled mortgage-related assets. This agreement is big enough to be effective, which will help ensure that credit is available for the benefit of American families and businesses.
- President Bush appreciates the work of Congress and his Administration to come to an agreement quickly and effectively. The spirit of cooperation between Democrats and Republicans in Congress has made this proposal stronger. This bipartisan proposal provides the flexibility we need to stabilize our financial systems by giving the Treasury Secretary the authority to purchase and provide guarantees for troubled assets.
The Emergency Economic Stabilization Plan Includes Important Provisions Providing Strong Oversight To Protect American Taxpayers And Strengthen Our Financial System
- This legislation places limits on executive compensation. When Treasury buys assets directly, the financial institution must observe standards limiting incentives and prohibiting golden parachutes. When the Treasury Department buys assets at auction, an institution that sells more than $300 million in assets is subject to penalties for golden parachute payments triggered by events other than retirement and compensation above $500,000 will not be tax-deductible.
- The Treasury Department will receive non-voting warrants from participating financial institutions, in order to cover losses and administrative costs while allowing taxpayers to benefit from equity appreciation.
- Under this bipartisan agreement, the Treasury Secretary must purchase troubled assets in stages. Initially, the Treasury Secretary will have the ability to immediately purchase up to $250 billion. In order to access the next $100 billion, the President must certify the need for the authority and report to Congress. For the final $350 billion; the President must request the authority through a written report to Congress. The Treasury Secretary will then have the authority unless Congress passes a joint resolution of disapproval within 15 days. The President will have the power to veto the resolution.
It is expected that much, if not all, of the tax dollars invested by the Federal government into these troubled financial institutions will be paid back over time. Under the purchase program, the government would sell the acquired assets, with the proceeds going back to the Treasury, to offset much, if not all, of the initial cost, and under the program to guarantee troubled assets, the Treasury Department would charge risk-based premiums to cover any anticipated claims.
President Bush Looks Forward To Working With Congress To Stabilize Our Financial System In The Long Term
For many years the President and his Administration have not only warned of the systemic consequences of financial turmoil at a housing government-sponsored enterprise (GSE) but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties. President Bush will continue working with Congress on measures to bring greater long-term transparency and reliability to the financial system. This includes those measures laid out in the regulatory blueprint submitted earlier this year by Secretary Paulson.
Many of the regulations governing America's markets were written in a different era, patched together over the last 75 years in response to market conditions that may no longer exist. It is vital that we update them to meet the realities of today's global financial system.
- The Blueprint recommends creating a new objectives-based approach to regulation that includes a market stability regulator, a prudential regulator, and a business conduct regulator that focuses on consumer protection.
Posted by Share Investor at 7:20 AM 0 comments
Labels: presidential remarks, Senate vote on 700 billion bailout Oct 1, video
FREAKY FRIDAY FUNNY: Helen gets elected
Related Political Animal Video
Posted by Share Investor at 12:01 AM 0 comments
Labels: Freaky Friday Funny, Helen gets elected, You Tube Video
Thursday, October 2, 2008
NZ Election 2008: Leader's debate
Posted by Share Investor at 7:32 PM 0 comments
Labels: John Key VS Helen Clark, Political debates, youtube video
Johnny Rocks! Dude
The lobby at the Stamford Plaza hotel disappeared last night at the Juice TV awards...
The Opshop boys were a surprise to see, largely because they'd only jetted back into the country from London three hours earlier. National party leader John Key was another pleasantly surprising presence and the musos loved it. He posed for photos with some, like the gorgeous Hollie Smith. No other politician even bothered to show up, which screams volumes about how they view the Kiwi music scene in GodZone doesn't it? Though I suspect Key will be joined by other politicos next week at the Vodafone NZ Music Awards when the cameras are out and the election is right round the corner. Hels loves a red carpet entry.
The yoof vote is something that the Johnster needs and shame on our trout faced leader for not holding her end of the bar up.
Nice gossip blog too Rachel Glucina from the Herald.
c Political Animal 2008
Posted by Share Investor at 6:44 AM 0 comments
Labels: Juice music awards, Rachel Glucina, Yoof vote
Google Politics
There have been some interesting recent Google searches to reach the Political Animal Blog.
www.google.com/search?hl=en&q=labour losing
A nice thought
www.google.com/search?hl=en&q=Phil Goff age of consent&btnG=Google Search&aq=f&oq=
Phil wanted to have sex between "consenting" 12 year olds made legal
www.google.com/search?client=safari&rls=en-us&q=%22My view is that tax cuts are largely offered as a political bribe, not because of beneficial economic or social effects%22&ie=UTF-8&oe=UTF-8
Michael Cullen, the taxman, must have been on his office computer that night
www.google.com/search?hl=en&rls=DAUS,DAUS:2006-08,DAUS:en&q=new zealand ETS bill impacts on transportation&start=10&sa=N
The Emissions Tax Scam will have a disastrous effect on New Zealand's economic well being
www.google.co.za/search?hl=en&q=Political meaning of alice in wonderland&btnG=Search&meta=
Winston Peters exploits have gone the world over
www.google.com/search?hl=en&rlz=1B3GGGL_enGB177GB222&q=nz labour party policies 2008&btnG=Search
I don't recall any Labour 2008 election policy that has thus far been released
www.google.co.uk/search?hl=en&q=THE PRICK WHO BANNED BULLRUSH&meta=
I agree with the "prick part", but Labours PPTA might have something to do with it
www.google.co.nz/search?hl=en&q=competitors for kiwirail&btnG=Google Search&meta=
In the wake of another $120 million taxpayer dollars down the tube for Labour's billion dollar trainset
www.google.co.nz/search?source=ig&hl=en&rlz=1G1GGLQ_ENNZ293&q=nz nuclear option&meta=
A solution to our politically engineered energy crises
www.google.com/ie?q=Winstone Peters Photo&hl=en&start=10&sa=N
Winnie looking for the latest photo of himself
www.google.co.nz/search?sourceid=navclient&ie=UTF-8&rlz=1T4GFRC_enNZ205NZ205&q=pumphouse helen clark young lover
Does the googler know something we don't?
www.google.com/search?hl=en&client=safari&rls=en&q=finance bill voting 2008&btnG=Search
Kiwi voters want to know who voted against free speech last year
www.google.com/search?q=new zealand labour party blog&rls=com.microsoft:en-nz:IE-SearchBox&ie=UTF-8&oe=UTF-8&sourceid=ie7&rlz=1I7PCTA
Not here, this is Political Animal a semi-respectable organ of the internet press, the official Labour Party blog is The Standard
www.google.com/search?hl=en&q=smacking referendum numbers&btnG=Search
One of the most popular Google searches to reach this site
www.google.co.nz/search?client=firefox-a&rls=org.mozilla%3Aen-US%3Aofficial&channel=s&hl=en&q=funny helen clarke sound&meta=&btnG=Google Search
Its about trust?
www.google.co.nz/search?hl=en&q=honesty in nz politics&meta=&btnG=Google Search&aq=t
That would be nice
www.google.com/search?q=south auckland unemployment&hl=en&sa=2
Its quite disproportionally higher than most other parts of the country
I think these little Googles show that New Zealand voters, at least those that are motivated to search and find out more about politics, want to be aware of what is going on politically and are not as stupid as politicians from the left think they are.
They want to find out the substance of the politician before they use their valuable vote and that really is important when these people are going to be reaching into your pockets for the next 3 years.
Posted by Share Investor at 12:01 AM 0 comments
Labels: Political Google Search
Senate will vote to pass $700 billion bailout on Oct 1
I just cant get enough of the political situation in regards to the US$700 billion bailout by the taxpayer of the US financial sector.
Posted by Share Investor at 12:01 AM 0 comments
Wednesday, October 1, 2008
An alternative report on crime
Labours much talked about 1% overall drop in crime released today leads me to discuss another type of report on crime, that of unreported crime and the rise of this phenomenon.
Posted by Share Investor at 7:14 PM 0 comments
Labels: crime and punishment, crime stats
Helen is right
That Helen Clark instigated the disposal of the minor parties in the proposed TV3 political debate is no surprise to most. She has a long history of clamping down on free speech with the passing of the Electoral Finance Act and constant threats to media to stifle press freedoms.
Mark Jennings from TV3 said the Labour leader did not want to share the stage with the smaller parties, and talked National leader John Key into joining the boycott.
"Clark told me two months ago that it has always been her view there are too many people in the debates."
"She [Helen Clark] said to me: 'Oh, it does get messy, doesn't it'."
I have to agree with the Prime Minister though. The minor parties will be a major distraction. The debates are not long enough to get any substance from the two leaders. Either two will be Prime Minister and we need to know from them what their vision for the country is.
For minor parties to be morally outraged at Clark's proposal is laughable at best.
Minor parties are there to support the major party that they go with after the election and have plenty of opportunity to get media attention from their policies.
c Political Animal 2008
Posted by Share Investor at 8:10 AM 1 comments
Labels: helen clark, Political debates
Tuesday, September 30, 2008
VIDEO & AUDIO: George W. Bush Address to the Nation, Sept 30 2008
While not a spectacular speech by any stretch of the imagination, it was nevertheless competent enough to restore some positivity into the DOW this morning.
As at 7.45 am (NZ time) the DOW was up 379 points.
In my opinion it is unlikely to be a sustained upswing because there is more bad financial news to come.
Related Links
President Bush Discusses Financial Rescue Legislation
c Political Animal 2008
Posted by Share Investor at 11:10 PM 0 comments
Labels: 700 billion bailout fails, George Bush Address to the nation, US Politics
Falwasser should be out for the count
Posted by Share Investor at 9:18 PM 8 comments
Labels: crime and punishment, NZ Police, Rawiri Falwasser
New Generation
The moral outrage by David "Fartman" Parker,Lianne Dalzeil and the Labour Party over Contact Energy today announcing power prices rises leaves me more than a little confused:
"The latest price increases, especially for residential consumers, follow a worrying trend of price rises in excess of general inflation, and I intend to ensure that the market is not being manipulated by electricity retailers."
The facts are that Contact is putting up power prices because Labour have not allowed enough new generation to be built because of the global warming myth and are set to pile more cost on to consumers power bills through their dodgy climate change policies. David Parker has got his sticky little socialist fingerprints all over the mess.
Restrict generation, ipso facto power prices rise-well duh!
Contact Energy had to run a diesel power station at full blast for most of 2008 because of the lack of power generation for goodness sake.
Parker's inexperience shows in this quote from him today:
"The gap between residential and industrial charges was difficult to understand"
What the fuck?!
David if you are a industrial power user you generally use more power and like any other product or service you will be able to negotiate a lower price for bulk usage.
That is the way any market works and is general practice with power companies. Perhaps you could talk to a couple instead of grandstanding weeks before an election.
This collective is overseeing the energy portfolio and the Carbon Credit tax scam.
We should be worried.
Related reading
Carbon Credit trading puts markets at extreme risk
Contact Energy looks bright during dark times
c Political Animal 2008
Posted by Share Investor at 8:41 PM 0 comments
Labels: Contact Energy, David Parker, Political doublespeak
VIDEO: Sept 29 Debate of $700 billion bailout in Congress
Posted by Share Investor at 6:14 PM 0 comments
Labels: VIDEO: Sept 29 Debate of $700 billion bailout in Congress
Arrrrr me bucko!
With all the seriousness surrounding us with a meltdown on the Dow this morning and a hopeless collection of toss pots up for the 2008 election, I just don't feel the need to be serious lately.
Posted by Share Investor at 8:47 AM 2 comments
Labels: defaced billboards
700 Billion bailout fails to pass in lower house
News just in that the 700 billion bailout has just failed a vote in the House:
The fate of a controversial $700 billion financial bailout plan was in doubt Monday as a House vote turned against it.
The next steps were not immediately clear but supporters were scrambling to put it up for another vote.
What was supposed to be a 15-minute vote stretched past the half-hour mark as leadership scrambled for support. Investors who had been counting on the rescue plan sent the Dow Jones industrial average down as much as 700 points while watching the measure come up short of the necessary support, before rebounding slightly. The key stock reading was down more than 500 points.
The measure needs 218 votes for passage. Democrats voted 141 to 94 in favor of the plan, while Republicans voted 65 to 133 against. That left the measure with 206 votes for and 227 against.
CNN MoneyIt doesn't mean the rescue package is necessarily over, it will probably go back to the house in a modified way but it does mean that markets are reacting badly and are in a worse position than they would if a rescue package wasn't announced.
This is because if anything else, apart from the actual dire situation the financial sector is in, markets hate uncertainty.
The DOW is down 710 points as a result as at 8.33 am(NZ Time)
I expected a bigger plunge but the market still has 27 minutes of trading before close.
Posted by Share Investor at 7:33 AM 3 comments
Labels: $700 billion bailout fails
Winston limbos even lower
One of our supporters sent this in, we thought you might like it!
Which of these two spent $20,000 on his teeth?
Infantile, nasty, rude and desperate stuff, just like some of the content on this site or on BarnsleyBill -David Benson Pope, and Assult with a deadly fart- but we are not running for office.
I will have a go at a comparison of my own.
What is the difference between these two men and the way they operate politically?
Answer?
Sadly, very little at all.
c Political Animal 2008
Posted by Share Investor at 12:01 AM 1 comments
Labels: Robert Mugabe, Winston Peters Blogger
OneSteel makes cheeky bid for minority shareholders
Crikey mate! They are at it again.
Those cheapskate Aussies are trying to steal (pun intended) Steel and Tube [STU.NZX] off shareholders for the measly price of NZ$4 a share.
OneSteel [OST.ASX] has today launched a bid for the 49.73% of Steel and Tube they don't already own.
It has shades of the Contact Energy[CEN.NZX] takeover bid last year about it when Origin Energy attempted to buy the approximately half of Contact they didn't already own, for a knock down bargain basement price and the board of Contact, which had a number of Origin aligned directors on it approved the bid.
It wasn't until an independent report came back that the bid by Origin was seen as the highway robbery it clearly was and Origin was rightly sent packing.
I assume that OneSteel have a number of directors on the Steel and Tube board sympathetic to Origin's charms, so it doesn't take an Einstein to figure out that they will probably want to rubber stamp their parent company's bid without so much as a "hold your horses mate" (insert Australian twang here).
Apart from the cheek of the bid, it once again highlights the major gaps in New Zealand's financial regulatory and takeover laws, where a majority holder in a listed company thinks they can dupe the remaining shareholders simply because they have board control and therefore the controlling votes.
Of course this is where Steel and Tube shareholders are crucial in this scenario. If they are dumb enough to sell for 4 bucks well you just cant help some people.
Seriously though, times are tight so investors could be forgiven for folding but the company is worth more than $NZ4(at today's AU/NZ exchange rate cross only AU$3.28 )
Steel and Tube is a cyclical company. Currently the building and construction sector is experiencing a slowdown and raw materials are getting more expensive to buy to make their products. The current credit crunch and market jitters isn't helping either and as a consequence the share price is trading at multi year lows.
This will change, there will be a construction upswing, market turmoil will abate and raw steel is going drop in price.
Guess what, that means profit and the share price will rise.
OneSteel's bid is therefore very opportunistic. I don't blame them, it is a smart move.
But and it is a big but (insert OZ accent again) it is up to shareholders to have some steely resolve and and just say no to those aggressive little buggers across the ditch.
I have been an unwilling participant in a cheapskate takeover before. The Transpacific Industries [TPI.ASX] "merger" of Waste Management NZ a few years back left me with a bitter taste in my mouth.
The CEO of Transpacific made what he called a "fair bid' for an almost monopoly company that had been growing profit at 20% per annum for over 5 years and shareholders fell all over themselves to take the cash.
A made a large profit on a large number of shares but I didn't want to sell. Waste Management was going to be a good long term company in my portfolio.
As I am a small shareholder in Steel and Tube, my advice to shareholders is to hang on tight for the independent directors report on the OneSteel bid.
See what they have to say and if they approve tell OneSteel and the directors where to get off.
Steel & Tube @ Share Investor
Long Term View: Steel & Tube Ltd
NZX's Top 10 Dividend Returns
Discuss STU @ Share Investor Forum
Download STU Company Reports
Buy Toughen Up: What I've Learned About Surviving Tough Times
Toughen Up - Fishpond.co.nz
c Share Investor 2008
Posted by Share Investor at 12:01 AM 0 comments
Labels: OneSteel bid for Steel and Tube, STU, takeover bid
Monday, September 29, 2008
National to officially ditch the EFA
National Party Deputy Leader Bill English says all New Zealanders with an interest in free speech will welcome John Key's confirmation today that a National-led Government will repeal the oppressive Electoral Finance Act.
"This is a self-serving law, passed in haste, and designed to silence Labour's critics in election year. National will end the farce."
Mr English is commenting after the release of the National Party's electoral law policy was released today.
"The Electoral Commission and the Law Society have expressed serious reservations about the impact of the EFA on free speech and freedom of expression. Labour has belittled these concerns.
"The Electoral Finance Act has been a total shambles and those parties who supported it are now all regretting they did so. We do hope they embrace the chance to fix it."
National will move to repeal the Electoral Finance Act 2007 immediately after the election, but retain the provisions around the transparency of donations.
The old sections from the Electoral Act 1993 will be reinstated, and the Electoral Finance Act sections relating to donations, will be inserted into the Electoral Act 1993.
"National concluded long ago that there needed to be more transparency around donations. We were genuinely surprised when Labour failed to put in any controls around donations when the law was initially drafted.
"We will retain those provisions from the EFA, and reform electoral law through a process that involves all parliamentary parties and the public in a fair and timely manner.
"When electoral watchdogs say they can't understand the rules, when the law society says the Act is stifling free speech, when MPs have no clear steer on what is an election advertisement – that is banana republic time. This law should never have been passed and will be repealed by National."
A good clear policy for a confused badly drafted law.
Related Political Animal reading
Electoral Finance Act March Mar 9, 2008
Electoral Finance Bill Vote
NZ losses democratic freedom
Mike Moore turns the knife
List of MPs who voted for Act
Cartoon and comment
Auckland Protest against EFB
The purpose of the Bill is clear
To view National's electoral law summary visit: http://national.org.nz/files/2008/electoral_law.pdf
c Political Animal 2008
Posted by Share Investor at 12:02 AM 0 comments
Labels: democracy, electoral finance act, freedom of speech
Labour's election bribe could be a whopper
I have written in the past about the fact that Labour are going to try and buy the election, and they will. They did it in 2005 and they will do it in 2008.
Posted by Share Investor at 12:01 AM 0 comments
Labels: Election bribes, student debt
Sunday, September 28, 2008
POLL: TV3 TNS Poll, 28 Septr 2008
(Angus Reid Global Monitor) - The governing Labour party will likely lose its re-election bid in next month’s legislative ballot, according to a poll by TNS released by TV3. 36 per cent of respondents would vote for Labour in the next election to the House of Representatives, while 49 per cent would support the opposition National party.
The Greens are third with five per cent, followed by New Zealand First with three per cent, and the Maori Party with two per cent.
Labour leader Helen Clark has acted as New Zealand’s prime minister since December 1999. In November 2006, Don Brash—who had served as National’s leader since October 2003—announced his resignation and was substituted by finance spokesman John Key.
Labour will have to pull the biggest bribe in New Zealand political history to get the electorate to vote for them.
c Political Animal 2008
Posted by Share Investor at 5:56 PM 0 comments
Labels: TV3 TNS Poll 28 Sept 2008
Helen Clark gives good head
A lovely little piece from Ana Samway's Sideswipe, indicating that people would rather have their dogs chew the head off Helen Clark than they would themselves vote for her:
Pete Couchman from Masterpets sheds some light on the popularity of the Helen Clark Election '08 dog toy. "The fact that Helen is selling out may have little to do with popularity. Masterpets' 'Dog-tucker' poll is a reverse poll, where it pays not to be ahead. The old saying of being 'fed to the dogs' is rather poignant when being chewed by dogs up and down the country ... "
The head girl is ahead in the popularity stakes for getting her head-toy head chewed off by 59% of New Zealand's mongrel owners-this is on top of Winston Peters clearly doing the same.
The 59% for Helen Clark's head rating mirrors National's voter support in the Political Animal Blog poll and I am picking the Masterpet poll to be more accurate than some of our official ones, even though there is overwhelming support for the National Party in the majority of them as well.
c Political Animal 2008
Posted by Share Investor at 12:38 PM 4 comments
Labels: Helen Clark gives good head, Masterpet's politcal chew toys
